 And I had a lot of plans on what I wanted to do, but given the time constraint, I decided just to keep it basically one or two key ideas which I want to share. And I will basically leave you not so much as with answers, but more like questions which, questions which you can probably think about, questions that, is that okay? The questions which you can probably think about later on at leisure, whenever you want to. So I'm going to be talking about what we're calling context sensing and what happens is that I mean, context senses is essentially about trying to look at specific scenarios which happen on the ground, whether you are in banking in a branch or in a call center or whatever. And there's a specific customer in front of you or specific group of people in front of you. But you have at the back end, you have a lot of generic models, generic business processes and so on and so forth. So how do you apply it to that particular context? And how do you apply it in such a way that each customer, each group of people get as much value as they can get from that same transaction, so to speak. So I'll take a specific case of community oriented banking. But this is a model or this is a framework which applies across domains and across context, so to speak. I'll just quickly share about our company. Essentially we work on something called citizenship and what we're basically saying is that we focus on citizenship as an ideal which is basically how do people collaborate and coexist. It's not just coexisting, I mean two people living in the same building coexist but they probably never meet each other. I mean a lot of people, we don't even know who our neighbors are. But how do we collaboratively coexist? That is essentially what citizenship is. Whether it's in a family, whether it's in a team working in a company, whether it's the larger organization and so on and so forth. And it's essentially what it's something to do with what the individual and the collective. If you take the individual case, a Batman is an individual who has an ideal who's living for that. But the rest of the city, rest of the people, they treat him as a murderer and so on and so forth. On the other hand, if you take the Japanese during last Fukushima thing when there was a shortage of supplies and still nobody was hoarding. There was a famous block piece where somebody said that we don't want to hoard because if we hoard, nobody else will get supplies. Now that's a collective collaboration that I will take only that much I need for today so that everybody else gets a share of that supplies. Now how do you have that at an individual level? How do you have that at a collective level? We all work in organizations. We have one or two star individuals who keep performing all the time. What about the others? Collectively, are we collaborating with each other? Are we producing value? So that is also citizenship. And citizenship is we found that I'm a management student myself and over 14 years of hindsight, I can tell you none of our theories so to speak really help us work out this collaboration because it's easy to figure out a transaction. You need something, I have something, I'll give it to you and that's it. At a close. But working as a team, there's a give and take, the sharing, there are nuances to the whole thing. How do you institutionalize that? How do you make it in such a way that it's across the board and everybody's benefiting from it? That is something which we have found is still not there as a body of work which can be applied across systems. So that's something which we are focusing on and context sensing is one such area which I shall discuss now. So I briefly about myself. I've been here in this for six years now for good or for worse. I'm from I am Bangalore and this is just some self plug. So where does context sensing start from? Every business you name it, every business leader has the same problem. How do I have scale? How do I also create value? These are actually two different axes. If you want scale, you create process, you create standardizations, you create templates. You basically get down to such a level of detailing that nobody has to think. You can put anybody there and you just do it. And even better, you can even automate it. But what happens is that you're actually cutting out a key uncontrollable. What is uncontrollable for you? Which is every human being, every customer is unique. And that is something which you can't control. Who walks into your shop, walks into your bank branch, walks into your business, you can't control. He may have his whims and fancies. He may have his own attitudes and so on and so forth. You can't control that. So if you can't control that in a process, it has to be controlled. You actually are removing that from the process. So it becomes like a McDonald's burger, which is whether it's in New York or Bombay, it tastes the same. And the guy will, whether it's in New York or Bombay, will still ask you, do you want it with cheese? So there is no, you want a little sour, little spicy, less spicy, salt, nothing like that. On the other hand, if you take the other axis, you have richness. Highly personalized, one-on-one, like your LIC guy or your family doctor, completely on working for you and giving you a full thing. But a family doctor will have only that many patients. He's not going to have millions of patients. He can't do that kind of effort on everybody. So businesses are also like that. Businesses also want, they want to create that value. They know that this is the value that will bring customers to me. But if I scale it out, I have to cut down something. So what is that balance? How do I get both value and richness? Usually when people go for reach and we know, if you go to ICSA bank or any of these banks, you go, you call up customer care, you always get process, but you don't get value. You don't get that guy listening to your concern. You get a guy talking about a script, talking about a process that he or she has been taught and it's been embedded in his or her mind. So what is that middle path? The middle path is two things, two concepts here. One is context. If you take millions of individuals, a country of 1 billion people, there are 1 billion personalized personals. But if I take a context, context is a little more scalable because context means what is the scenario? For example, if I'm in a bank, there are students who come to pay fees. Now that is the context and when do they come? They usually come on the last day. The next day is when the deadline is over. So they come hurriedly. They've forgotten all about it. They come on the last day. They say, we want to transfer so much money to our fees. Now it's a single context. It's across the country and we've seen that. But you can take a process view and say, sorry, I mean, can't help you. Fill up these things, do this, we have money in the account, blah, blah, blah. Or you can say, yeah, so if I know these IITs and so on and so forth, they have this date of filling up submission dates of fees. I can pre-plan my branch to accommodate those students when they come on that particular day. So if I have that context in mind, I can pre-plan everything. So but how do I know what this context is? That is in our experience with banking is that people don't get to that level. Stick at that transaction level, unable to see beyond what that person really wants. What does the student really want? He wants to be sure that this money is gone and he's got his admission. I mean, he's got his college seat. If the money doesn't reach the college, he doesn't have it. So there's a responsibility of the bank also to ensure that money reaches on time. Does the bank take that responsibility? No, it doesn't. It's left to the customer to figure out how to do it. So these things all come out in that context. And what is practice? Practice is very different from process. Process is a task. It's replicable. You don't need to think about it. It's specified. You just execute it. Practice requires judgment. A doctor is a medical practitioner. He practices. He has to take a call. If you go to a doctor and tell him that I've got ABCD symptoms, he has to take a call. What's wrong with you? And then he'll say, OK, maybe do these tests. Don't do these tests. And then we'll see what happens. So what is this call that you have to take? As a banker, if somebody's coming to me for a loan, I have to take a call whether this guy is going to repay the loan or not. Today, if I make it into a process, I'll say, is your income level so much? I enter the figures, I have an Excel sheet, and I can get a model. But then the model is only applicable based on the data. Anybody can put any data. If I know that an income of $10,000 will get me a loan, I'll put an income of $10,000. What is the who's going to catch me? But if there's a person who's taking a call, then he has a greater control of the matter. He has a greater judgment, and he's able to really protect the bank. But that comes from wisdom, that comes from experience, that comes from practice. He has follow a certain protocol, he has follow certain mental processes and arrive at that judgment. So if you bring those practices and context together, that's when you're able to get that middle path and what we call context sensing. Take that same example of students having to pay their fees. So if I know every year around between March to April is when admissions happen across the country, then all my branches, I can tell them, I can train them that, listen, this is the peak time of students. They're going to come to you on one day or two days before their deadline. They're going to ask for all this. How do you handle them? How do you talk to them? They need to be reassured. They don't want to lose their seat in their respective institutes. How do you talk to them? You can actually pre-plan everything, train them, have those practices in place. And that can actually create so much value for your customer and for you. Because by pre-planning, you're avoiding the chaos. You're avoiding the errors that may happen because of the rush that's happening and so on and so forth. We've done this in three places. One is in oil retailing, where you have a petrol pump. How many of you ever thought of anything to do in a petrol pump beyond filling petrol? But actually, if you look deeper, all the trucks who go and fill up diesel, without that petrol pump, you won't have logistics in this country. You won't have a supply chain in this country. So that petrol pump dealer is a vital link in the entire supply chain of a lot of products, your food, and so on and so forth. Now, when you see that context, that he is part of a value chain, now suddenly he's got so much more value to offer. And he can therefore create more income generating or business opportunities for himself in that space. Retail banking is something which I'll talk about later. Financial counseling is something which we're doing currently. For those of you who may be aware that we're buying investments and mutual funds and so on and so forth, you may have one or two very good advices, but most of the time the guys who come to sell you stuff are basically talking about which MFS got, what returns and so on and so forth. They're not actually talking to you about what kind of returns you want. They're not actually trying to give you any kind of a portfolio or trying to tell you whether it's the right time to invest or not. We're actually looking at how you can look at different contexts, like a retired guy, like a guy who's got VRS and got a lot of money. And see what kind of financial goals you can set for them and how can you plan it on a retail basis. This we are doing with a large financial services group. So let's take banks, for example. So we know banks as transaction guys. So all your fund transfers, all your withdrawals, online payments, purchase on Flipkart and so on and so forth. All that happens as banks. Then your banks as product sellers. But banks can also be community engines. Just like the RBI plays a role at the macro level. A branch can also play a role at a local level. And for this, the branch has to go deep into that community and build an intelligence model or build a model which can tap into that local knowledge. Today, broadly, where is maximum data work done at the transactional level? A little bit at the product level. Almost nothing at the community level. At a market level. So these are the kind of communities that you have. Communities are not demographics. Communities are groups of people who have a common goal. And when you map them, that's when you are able to create those context models and therefore design appropriate practices. So skip all this to save time. I'll just come down to the last part, which is how can data enter? So in this context, I think we are talking of a completely different nature of data itself. We are not talking about transactions or what's not money here in the account. We're talking about linkages in the ecosystem. If you take a group of industrialists, what are the linkages which run between them? What are the opportunities available, which may be present today, which may happen five years later? What are the, what's the health of that community? Are they dying? Are they sick? Or is it nascent? Is it just in the process of getting set up? What are the enablers? For example, lack of skill can be a huge disabler in some communities. They don't have the skill. They're not going to earn money. There's no potential there. And if I have that, these are some of the ways I can apply that in business. Risk management, for example. At a local level, if I know a group of people I'm financing or I'm giving loans to who are basically dependent on, let's say, exports, then I need to know that a shift in the market can affect them at a local level. At the macro level, obviously, there are reports. But as a local branch manager, he should have that available with him real time so that he's able to pull out or advise his community members to move out or do something so that he's protected and he can move with the business solution design and so on and so forth. Why is this a big thing? I mean, if you take RBI, if you read any of the RBI reports, they're only talking about this in different ways, financial inclusion, looking at SME and micro enterprises, so on. There's a threat of new banks coming in. Transaction systems are easily copyable, so there's no competitive advantage left in that. And you have cooperative banks expanding. Cooperative banks are your community banks. Now, if they take that experience to different places, all your existing public sector banks and I say the banks are going to be threatened because they're going to give that value to the communities which they are not giving. So there is a growing need for that. So that's it. I'll just leave the last slide here. If anybody is interested in talking about it, come over. So I come from the banking fraternity. I've been with banking for 35 years. The model that you talked about, I was in Sydney, the credit union corporation of Australia. It consists of some 180 credit unions. At that time, it probably shrank since then. This credit union society consists of something like 180 credit unions in the region of about $3 billion as a total asset putting. In comparison, the US has 8,500 credit unions, almost $1 trillion of asset putting. The community banks and the credit unions are very similar to each other in many ways that you mentioned about. I'm not very knowledgeable about the cooperative banks in India, but I'm very curious to see how, to me, it looks like a very interesting idea. At one of the strategy meetings in Sydney, I brought out the AMUL example. AMUL is again a cooperative. And they were thrilled when they heard this, and they had not heard about how AMUL became what it is today, almost challenging the multinationals. So my interest is to see how this model can be taken to the US credit unions. I know that notwithstanding the fact that we have Infosys, TCS, IBM, and all that, the penetration into the credit union universe is very, very small. Only a handful of people are like CGI, Pfizer, or the companies who are servicing the credit union space. So I felt that much of what you are saying now, looking ahead and then planning for the whole. And again, there is the competition between the multinational banks like Citibank and JPMorgan and so on, and the credit unions. One of the interesting things that came out of the strategy meeting was the bonding that happens between the customer and the credit unions is very strong. In fact, the credit unions were charging more than the banks themselves, and yet they did not desert. One thing that happened was at the end of their service time, most of these are industry nurses, teachers, policemen, and so on, or either function or geography. So they were able to get on with, they found that these credit unions, the members of the credit unions, at the time when they completed their job, or once they reached the retirement age, they went to the money and left. Unfortunately, credit unions suddenly ran short of money. On the one hand, they ate out of the credit unions. Of course, credit unions did give loans and then they earned. And again, the entire profit that accrues to the credit unions are plowed back for the benefit of the community. So when you said we can talk about it, I am very keen to see how this can be. Many of the credit unions, you can classify them into very large, medium, and small. So each, the big credit unions may be in the region of about $10 billion. The smallest may be about $1 billion. And they are looking for enablers like technology to compete against some of these biggies. And in many cases, they are able to beat the biggies. So I'm trying to see how you can facilitate this. So maybe we will watch and see. But fundamentally, at a human level, we know that we cannot live without collaborating. We may have the intention of not doing it. We may be selfish and so on and so forth. Fundamentally, we know that if you are working together, if I don't help you, you won't help me, then none of us will grow. So that we know. But whether it happens in practice is a different kind of circumstances I involved in.